Insurers have been urged to consider the “reputational damage they may suffer” before appealing the Financial Conduct Authority's business interruption test case judgment.
Disease and ‘hybrid’ wording policyholders are particularly well placed to seek compensation after the landmark High Court ruling today in the business interruption test case and those with prevention of access wordings may also find they have cover, law…
Insurer Ecclesiastical has confirmed its business interruption policies are not expected to pay out following a judgment in the Financial Conduct Authority’s High Court test case.
RSA has revealed the additional financial impact of the Financial Conduct Authority test case judgment is £104m, or £85m net of reinsurance.
Hiscox expects to pay ‘less than £100m’ net of reinsurance towards business interruption claims, the insurer said in an update following a court judgment.
The High Court has ruled that the majority of businesses that held business interruption insurance and were forced to close could be entitled to be compensated by the insurers involved in the test case, subject to appeal.
The Covid-19 pandemic has caused devastating losses for many businesses, with SMEs in the retail and hospitality sector being particularly hard hit. The extent to which these losses fall to be covered by business interruption insurance policies is the…
On 15 September the judges in the Financial Conduct Authority’s business interruption test case will hand down their judgment. But this will not mark the end of the struggle between insurers and customers.
After relaxing the national lockdown, the government imposed local restrictions to control the spread of the Covid-19 virus. Post investigates what implications these local lockdowns have for insurance.
Events were cancelled across the board this year due to Covid-19 but none could be much more emotive than the thousands of weddings that couldn’t go ahead. Post investigates how the insurance market responded.
The Financial Conduct Authority expects to publish a policy statement this autumn following its consultation on compelling firms to report value measures data on most general insurance products.
The judgment in the Financial Conduct Authority’s business interruption test case, in which the regulator is representing policyholders against insurers, is expected Tuesday 15 September.
Exclusive: The Financial Ombudsman Service told Post it has so far seen a “handful” of business interruption complaints about brokers, as policyholders await the results of the Financial Conduct Authority’s High Court test case.
The founder of equity crowd-funding platform Syndicate Room is looking for individual investors on Seedrs for his latest venture, insurtech start-up Rnwl, that is targeting the 'pain point' of dual pricing.
David Roberts & Partners has denied the client and team poaching claims by Jelf in a High Court case and accused the Marsh-owned business of having a "toxic" work atmosphere and grossing up premiums, while a counterclaim from one defendant alleged human…
A filing by Jelf has slammed DRP’s defence and counterclaim allegations for including “much irrelevant and often inaccurate information, seemingly included for perceived prejudicial value” and addressed the accusations of grossing up premiums and gender…
The fifth cohort of Lloyd’s lab kicks off this week, with the chosen teams set to concentrate on Covid-19 products and solutions. Post looks at the businesses that hope the accelerator will help make their mark on insurance.
The Financial Conduct Authority has urged brokers to address 'significant risks' they could pose to their customers or markets.
It is the year 2030. The focus on climate change continued to gather momentum throughout the 2020s. But despite pressure to bring the date forward the UK government is still committed to helping reduce gas emission to net zero by 2050.
Ben Pilbrow, partner at Shepherd and Wedderburn and legal advisor to the QIC Action Group, discusses the implications of the Financial Conduct Authority’s High Court intervention against insurers for funding claims.
As brokers grapple with soaring professional indemnity rates and attention sharpens on the potential for claims in the wake of the ongoing Financial Conduct Authority business interruption court case, Post investigates what the eye-watering price changes…
The Financial Conduct Authority has kept the temporary measures to help insurance customers hit by the Covid-19 crisis in place until the end of October.
To survive and thrive in uncertainty, to shore up organisational resilience and remain innovative, insurance firms must embrace diversity and meaningfully embed it in their culture and operating model.
The Financial Conduct Authority has warned insurers making deductions to non-damage business interruption claim payments based on government payouts that it will intervene if firms do not meet its expectations and treat customers fairly.